As we know there\’s a Panorama tonight about how awful they all are over at The Ritz for not paying any corporation tax.
Here\’s their accounts. Ritz
Dunno if that\’ll actually work but still.
I am not an accountant. But as far as I can see they\’ve indeed been making profits. But accumulated profits seem to be about the same as this year\’s profits. And they didn\’t pay a dividend last year either.
So I\’m assuming, that since accumulated profits are the same as this year\’s, that they had some whacking great losses in the past. Which they\’ve only just managed to catch up with.
I think that\’s right. And now we\’ve got The Guardian and Panaorama castigating them for not payin coprporation tax. Simply because they, righteously (and I\’m not at all sure that you\’re not allowed to either), has offset past losses against current taxes.
Really, if that\’s the best they can do……
As ever, if I\’ve got this explanation wrong do let me know.